Tuesday, January 31, 2017

A former Children's Memorial office building is torn down at West Fullerton and North Orchard in Lincoln Park. A new, almost identical looking Senior housing building will go up in it's place. Homes and entire buildings, large and small, have been demolished for development or safety reasons at seemingly a record pace over the past few years. (Photo Eric Rojas, Kale Realty)

We are no stranger on these pages to discussing demolition and development around Chicago as it pertains to our day to day dealings. Chicago has had a frantic three year run of demolition. It's the most active period of tear down and development I've witnessed in my lifetime on the North Side of the city. But demo permits are high in some South Side neighborhoods as the data show (but for different reasons).

Winfield, Illinois has several town house communities to choose from. Many town house options are near the Winfield Metra stop and quaint downtown area.

I was in Winfield, Illinos for part of yesterday shopping town homes with a client. A friend of mine asked if I was getting a flight home that evening. I know LOL funny! Winfield (near Wheaton/ Warrenville) is a bout a 50 minute drive or so from the North Side of Chicago with little traffic . My client sold their condo with us over a year ago and moved to the burbs. Now settled on the area he'd like to buy home again.

About 49 town house units closed in Winfield in 2016. The median price of a town house is about $257,000. 46 town homes sold in 2015 for a lower median price at $233,000.
2014, 53 units sold for a median price of $247,000.
2013, 43 units sold for a median price of $236,000.
2012, 35 units sold for a median price of about $200,000.

The highest sold town house last year was $372,000 for a 3 bed new construction unit at the Timber Creek sub-division adjacent to Timber Ridge Forest Preserve.

Many Winfield town homes are located near wooded areas and full blown forest preserves. Although close to major routes and western suburban industry the Winfield area itself offers tremendous green space.

The least expensive town house sold in Winfield last year was $142,000 for
27W417 Melrose Ln, Winfield, Illinois 60190. The 1998 build is a three bedrooms, one and one-half bathrooms unit also adjacent to Timber Ridge Forest Preserve. The short-sale home was in good shape and a good value for country-like location.

A small downtown offers several local joints a walk or quick bike ride away from a few town house communities.

Long time home inspector Chuck Ryan of Precision Property Inspections checks out the furnace and water heater for our buyer client in Western Springs early this month.

Most of our buyer clients ask us for home inspector referrals. We usually refer three well established and experienced companies that have worked with our clients over many years. The inspectors are thorough, concise and offer great advice. They do not confuse the buyers. They give them options when issues come up on the inspection. They are also clear in explaining how home systems work.

Check out Precision Property Inspections for your next home or investment inspection. Maybe you would like a thorough inspection of your current property to address any unknown issues. Chuck would have a field day on my house! In fact he was my inspector back in 2010 when we bought our current house to renovate.

Open floor plan on main level with living room, dining area, (2) bedrooms and one full bathroom. Newer gut renovation kitchen
with maple cabinets, granite counter-tops and stainless steel appliances. Fully finished lower level with family room, second bathroom with walk-in shower, 3rd
bedroom and a separate laundry room.

Summer nights in your own yard!

Recent improvements include new windows throughout
the house, fully finished basement, all new baths, new roof in 2015, newer HVAC, 6ft tall cedar privacy fence and gorgeous patio. The house is situated on a corner lot
in Jefferson Park and just a few blocks from the Jefferson Park Blue Line and Metra
stations (Forest Glen and Jefferson Park), Mariano's grocery and highly rated Beaubien public neighborhood school.

Jefferson
Park is home to a booming arts and small business community. Art
galleries, theaters and food trucks galore! During the summer there is a
farmer's market nearby at the Copernicus center. Several parks and forest preserves for those that enjoy
being active. Great sense of community!

We viewed a top floor re-sale unit last week listed for $550,000 on the 2100 block of West Roscoe. The unit had multiple offers in the first couple days on the market

We've been back in my old hood with clients looking for a three bedrooms condo in Roscoe Village. These particular buyers would like a unit with all the fixings; parking, large deck, two bathrooms, newer construction etc... That all comes at a price in one the North Side's most popular neighborhoods.

The Roscoe Village sales area includes Ashland to Western and Addison to Belmont. The area has great CTA Brown Line access, fantastic bars, restaurants and independent shops and services all steps away from the dynamic housing options.

Roscoe Village Condo Unit Sales 2016About 93 Roscoe Village three bedrooms condo units (attached units including town houses) sold in 2016. The median price for a unit over 2016 was about $515,000. Unit sales are up about 32% over 2015 and median price is up about $10,000 year to year.

The famous Roscoe Village kiosk is a remnant from more humble times in my old neighborhood.

Past three bedrooms unit sales
In 2015, 70 units sold for a median price of about $505,000.
2014, 60 units sold with a median price of about $465,000
2013, 66 units sold with a median price of about $430,000
2012, about 41 units closed with a median price of $400,000.

We've already seen Roscoe Village condos list and sell quickly in this mild January Weather in 2017. We expect new listing inventory to take a big jump this spring after a relatively slow fall market abbreviated by the Cub's World Series run and presidential election.

Monday, January 23, 2017

Oak Park made the recent Crain's Chicago Business best bets to buy a house (photo Eric Rojas, Broker, Kale Realty)

Crain's Chicago Business published a fun list of best Chicagoland areas to buy a house based on a bevy of data points. There are some usual suspects (Forest Glen, Wilmette, Hinsdale) and some lesser know areas that offer more affordable options (Jefferson Park, Mount Greenwood, Palos Hills value!). Congrats to my peeps who made the list! We work in most of these neighborhoods.

Wednesday, January 18, 2017

UNDER CONRACT! Local buyer gets a jump on the new year and offered a winning bid over the Christmas and New Year holidays. Watch the video walk through of our three beds,
four baths single family home listing at 2329 West Berwyn, Chicago, IL 60625. Asking price is $634,900

Bowmanville, Lincoln Square single family home!2329 West Berwyn, Chicago IL 60625Offered at $624,900Three bedroomsFour full baths30'x125' lot!Backyard, two large decks and two car garage Kitchen/ great roomTrue master suite!

Open floor plan with quality finish level.

True master suite with walk-in closet and awesome French door and deck!

Thursday, January 12, 2017

The old, junky Jewel Food Store and parking lot are long gone. The Sinclair development has taken it's shape at the corner of North LaSalle and West Division. The 390 unit luxury apartment building and new Jewel Store will anchor an old underused corner at the footsteps of one of Chicago's most famous neighborhoods. The Gold Coast (and very nearby adjacent blocks) has been adding more units and building brand new retail at an accelerated clip. The vibrancy should be palpable.

The brand new Jewel store will service the nearby residents and commuters alike (Clark and Division Red Line is across the street). Mega residential complex Sandburg Village down the street will benefit greatly.

Median price of a condo unit within a few blocks of the development is about $320,000. That will get you a one or two bedroom condo with varying degree of finish level and parking options.

Tuesday, January 10, 2017

Western Springs offers diverse homes built in the early 1900s to new construction and prices ranging in the $300s realistically to over $2 million.

We've been in Western Springs, Illinois with clients looking for a large house. The single family housing stock is quite diverse in this long time established suburb. However, four bedrooms homes or larger will cost you a little money.

In the last 12 months four bedrooms home sales have a median price of $610,000. About 78 four bedrooms homes sold.

Five bedrooms homes have a median sales price of $995,000. Only about 38 five bedrooms homes sold in the last 12 months.

Good sprinkling of mid century modern elements in many Western Springs homes.

Over-all home sales About 194 houses closed in all of Western Springs in 2016. The median price of a home sale is about $580,000. The most expensive home sale is 1010 Walnut St, Western Springs, Illinois 60558 for $2,500,000. The lowest priced sale is 5128 Ellington Ave, Western Springs, Illinois 60558 for $275,000 cash (sold as "tear down").

174 homes sold in 2015 with a median price of $601,000.
159 homes sold in 2014 with a median price of $550,000
190 homes sold in 2013 with a median price of $470,000
158 homes sold in 2012 with a median price of $445,000.

5-6 new condo and apartment projects are planned for Lawrence Avenue in Lincoln Square. This is the first pricing I've seen for any of the recent new projects.

I discovered the off market listings today through my TAN Agent Network. This is a paid site for top 10% brokers to list and request properties "off market". If you are looking for homes or condos in and around Lincoln Square please contact us. We may have more options available then what is listed on the MLS.

We recently viewed homes near the La Grange downtown area known as a Historic District.
Most houses maintain the distinct original character of the well established Chicago suburb. The majority of the houses look as they have always looked (mind for expansions and interior renovations). Home owners often opt to live with sometimes quirky lay outs in exchange for great location and "city life".

Home sales in the downtown La Grange area roughly West Ogden Ave to West 47th Street and North Gilbert/Willow Springs to East Ave.

La Grange downtown / Historic District area home sales104 homes have sold in the greater downtown La Grange area over 2016. The median price of a sale is $655,000. The many restaurants, bars, services and transportation options attribute to the relatively high median home price. Several friends and colleagues take the La Grange Metra stops to downtown Chicago in 20 mins.

We saw this new construction home interior on the outskirts of the downtown area. Fully gut renovated and new construction homes have been become more common with increased housing demand over the last few years. Foreclosure and value home purchases from past few years have become 2016's new construction homes.

In 2015, 109 homes sold for a median price of $550,000.
2014, 95 homes sold for a median price of about $550,000.
2013, 86 homes sold for a median price of about $510,000.

The increased median sales price in 2016 mimics the housing recovery for many transit orientated ares and the introduction of more new construction homes for sale over the last couple years. The red hot Chicago market over the last couple years has afforded growing families to sell city condos and buy their suburban homes in areas like La Grange downtown area. Many of our clients are taking advantage to buy their "move up" house.

Tuesday, January 03, 2017

A lot of our clients have moves in the works after an exciting Chicago Cubs season and crazy presidential election brought 2016 to a close. Check out one of the best reviewed movers in Chicago... Coffey Bros. Moving !

Wrapping and packing too!

Look for the flashy trucks!

I would like to extend warm welcome to our partnership with Coffey Bros Moving. These guys offer professional, responsible and affordable moving
rates.Servicing local Chicago and interstate moves as well.

Monday, January 02, 2017

Our clients closed 5039 W Berwyn in Forest Glen just before the Christmas holiday. The wide lot features large side yard and spacious backyard! They will expand the existing small house with a second story.

The hiking and bike trails along the North Branch of the Chicago River are a welcome amenity of this pocket of Forest Glen.

Bike or cross country ski the trails!

The price of the home dropped from $319,000 to $299,900 in the fall. Our clients moved quickly as this price point for such a large lot would attract much interest. We helped structure the purchase offer among the competing offers with an "escalation clause" and our clients came out on top with a $290,000 offer (without over-paying). Having their lender, attorney and aggressive closing date ready all helped secure the deal.

A big thank you to real estate attorney Patrick Loftus who worked on two relatively complex closings with our clients when selling their vacant land and helping purchase this home subject to court approval.

Sold! North Center Land for Sale: Coonley School District $190,000

Real Estate Broker and Author of this Blog

I am a Chicago real estate broker who began writing this blog in 2005. My group represents clients buying, selling and renting properties. I've been awarded Top 5% in sales volume for Chicago Association of Realtors every year from 2006-2015. Thanks for reading and working with us!
All posts and photos are by Eric Rojas and Bob DePalma unless otherwise noted. Contact us at erojas@kalerealty.com for great service!